Singapore
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Overview
Financial Performance
Revenue
S$5K - 10K
Gross Profit
Under S$5K
Net Profit
Under S$5K
Monthly Rentalt
Not Provided
Business Operations & Assets
Staff
2 Employee
Year of Incorporation
4
Owner Role
Full Time
Business Details
Reason For Sale
Running multiple businesses, no time to run business
Description
Business Overview
- The company operates a rent-a-friend business, focusing entirely on platonic relationships.
- All operations are conducted through a proprietary web application developed by the company.
- The platform features three main categories of users: Regular people, Micro Influencers, and Influencers, who serve as "rent buddies".
- A fixed rate is established for the time of these "rent buddies", offering users a clear pricing structure.
- The web app is structured as a social media platform, facilitating engagement between "renters" and "rent buddies".
- "Renters" utilize the platform to schedule and coordinate meetups with "rent buddies", fostering real-world connections.
- Additionally, "renters" have the option to unlock in-platform chats with "rent buddies", enhancing communication.
- Revenue is generated through commission from sales, including meetups and in-platform chats.
- Another significant revenue stream is derived from advertising partnerships with other businesses, leveraging the platform and its associated Instagram/Telegram channels.
Products & Services Overview
Rent-a-friend business (100% platonic)
- Regular people, micro-influencers, and influencers are on our platform as "rent buddies", and there is a fixed rate for their time.
- Our web app is designed as a social media platform to get engagement from "renters", who use our platform to schedule and coordinate meetups with "rent buddies".
- Our platform has been developed to be scaled up quickly in almost all countries globally and cross-border payment has been incorporated too.
Assets Overview
1. Online platform account that all our operations run on (users can self service making and receiving payments)
2. Marketing tools -- Instagram account, Tiktok account, Telegram channels for marketing and answering user enquiries.
Facilities Overview
As the business is online we do not have any physical assets.
Capitalization Overview
Fully bootstrapped business with no debts/loans. 2 shareholders, 51% / 49% split. Both looking to sell. Customer base already established.
- The company operates a rent-a-friend business, focusing entirely on platonic relationships.
- All operations are conducted through a proprietary web application developed by the company.
- The platform features three main categories of users: Regular people, Micro Influencers, and Influencers, who serve as "rent buddies".
- A fixed rate is established for the time of these "rent buddies", offering users a clear pricing structure.
- The web app is structured as a social media platform, facilitating engagement between "renters" and "rent buddies".
- "Renters" utilize the platform to schedule and coordinate meetups with "rent buddies", fostering real-world connections.
- Additionally, "renters" have the option to unlock in-platform chats with "rent buddies", enhancing communication.
- Revenue is generated through commission from sales, including meetups and in-platform chats.
- Another significant revenue stream is derived from advertising partnerships with other businesses, leveraging the platform and its associated Instagram/Telegram channels.
Products & Services Overview
Rent-a-friend business (100% platonic)
- Regular people, micro-influencers, and influencers are on our platform as "rent buddies", and there is a fixed rate for their time.
- Our web app is designed as a social media platform to get engagement from "renters", who use our platform to schedule and coordinate meetups with "rent buddies".
- Our platform has been developed to be scaled up quickly in almost all countries globally and cross-border payment has been incorporated too.
Assets Overview
1. Online platform account that all our operations run on (users can self service making and receiving payments)
2. Marketing tools -- Instagram account, Tiktok account, Telegram channels for marketing and answering user enquiries.
Facilities Overview
As the business is online we do not have any physical assets.
Capitalization Overview
Fully bootstrapped business with no debts/loans. 2 shareholders, 51% / 49% split. Both looking to sell. Customer base already established.
Facilities
As the business is online we do not have any physical assets.
Competition
Competition from up and coming social mixers that facilitate in-person meet ups.
Expansion Potential
Potential to rapidly expand globally, made possible by our:
- Cross border transaction and payment handling system that facilities easy money collection from clients, and payment to our platform Personalities and Influencers (service providers).
- Payment system that is designed to incur low fx fees
- Cross border transaction and payment handling system that facilities easy money collection from clients, and payment to our platform Personalities and Influencers (service providers).
- Payment system that is designed to incur low fx fees
Buyer Support & Terms
Support and Training
User training and full set of technical documentation will be provided. We will also link you up with our app developers should you require further customisations or technical support.
Important Disclaimer
Listing information is provided by the listing provider or their representatives and has not been independently verified by our platform. Users should verify all information and conduct their own due diligence before making any decision, payment or commitment.
All communications, agreements, transactions, disputes and claims are solely between the relevant parties.
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